With the situations, challenges, problems facing Nigerians today, banking and it's transactions shouldn't count as one of them but sadly that is not the case.
Continued inefficiency, lapses from our local banks has gotten to a point where no bank is recommendable, least you could hear is "try fidelity they are better than first bank" or "go to access bank they don't have much issues" but in the end you will hear hear "all Nigerian banks are the same", which is true sadly. Virtually, all Nigerians runs transactions involving our local banks on a daily basis, the importance of banks in our community cannot be overemphasize so therefore it is imperative for local banks to improve virtually on all it's transactions to enable Nigerians have better transactions experience and these is imperative to the success of bank's operations and profitability.
Following are five reasons on why local banks should improve on transactions.
1. Enhancement of Businesses
The basic avenue in which businesses thrive today is by transactions involving banks, banks is one of the most crucial drivers of the economy, and business be it small or large scale makes transactions virtually on a daily basis involving banks.
The benefits they allow and the opportunities they provide are crucial to the way the world is viewed, we can't be in a society where businesses are being slowed down due to network break downs or failure.
Today, banks and vendors relationship are strained due to vendors mistrust to using bank transactions to avoid delayed closer of business deals or loss or possible fraud.
If businesses are to be enhanced, banks transactions must be swift and efficient to restore trust and advance economic growth.
2. Technology and Automation
The need to reduce operational costs, become more efficient, and remove long queues are some of the reasons why digital financial technologies is making waves all over the country but we can still improve on it to be more efficient likewise productive. Take for instance our debit card or ATM cards, these cards gives us access to our funds, it needs not to expire.
3. Societal Safety
With the rapid amount of lapses involving banks transactions whereby you will attempt a single transaction for about twenty times a day before it's successful that is if you won't be debited without the transaction going through, there is increasingly welcome development or alternative by the masses to revert back to use of cash on transactions.
This is not good for our society, imagine where an individual carry with him lots of millions in cash to purchase a car or a house, it's not encouraging at all, it's not safe cause anything might happen to the individual, he could be robbed or even worse killed. We must protect ourselves, we must guard our community and environment and to do these and do it right, banks needs to improve on their handlings of transactions.
Cash on hands are not advisable, is very risky to the society, we must not revert back to the 1950s.
4. Trust Optimization
Whether through
customization via smart data deployment or personalized attention, customers want to feel like they matter, especially in their primary financial relationship. As digital channels move towards automated transactions, banking customers and CU members need to be even better served through customized products, personalized marketing approaches, and, perhaps most importantly, personalized experiences. That kind of human-to-human attention matters.
Customers lead, instead of the business leading, and you are always looking through the eyes of the person you are serving their needs, their pain points- and providing customized solutions for them. I suggest bank's should listen and attend to their customers pain points, cause alot of Nigerians pass through lot of pain dealing with Nigeria banks and they make their complaints known but most times nothing or little is done about it. It's a competitive advantage that local banks understand and use.
5. Fastened and Efficient Community
With banking transactions moving swiftly and systematically the pace and efficiency in which community will move doesn't need to be overemphasize. We need a faster and efficient community but one of the major ways of getting there is by having a banking transactions that is Swift and efficient, trustworthy and also listens to the complains of their customers and as well attend to them.
In future, banks must way for them to get better and keep making the world a better place.